ETH = Game Over

[BitUsher]

Lol it's escalating quickly.

I think purism is the way to go, all these "ideas" are like dropping a drop of ink into water, it taints the entire water.

You cant be an idealist optimist but also ignore every single major issue.

This is the problem with ICO's and Founding Entities that aren't anonymous. We saw it with Ripple, Paycoin, ect.. and now we are seeing it with Ethereum.... They are vulnerable to civil and criminal litigation unlike with bitcoin or similar coins that don't have these characteristics.

The price hasn't even fallen that much and lawsuits are already being created. Imagine what will happen as it drops further?

Law suit could also be created against ETC in the future if the Foundation is supported by certain funding.

Sure, and if satoshi came out public and took an active role in development and sold bitcoin 2.0 as a premined ICO than he would open himself up to litigation,  whats your point?

I am merely discussing the security weaknesses when people sell premined ICO securities in a public manner. If you want the cash up front , fame and glory there will be consequences for the founders , and the community as a whole.

Does this mean Ethereum will die? ... absolutely not , people are still trading the scam and shit-token paycoin to this day! All this means the drama will escalate and the ethereum community will suffer because of poor decisions from the foundation and its users.

[BlindMayorBitcorn]

I remember back in the day the foundation was going to set-up in my backyard, but the Canadians don't take kindly to securities fraud.

[iCEBREAKER]

Helicopter Vitalik started a war he cannot win.

What I realized so far is that a blockchain without a well-defined social contract will sooner or later face serious problems. At this moment, interestingly, the old "classic" chain is the one that already has a better contract. It’s the one that hasn’t been changed, but splitting off the majority of its value into a new chain changed its implied contract.

We can assume that whoever finds the old chain valuable believes that unintended contract behavior is no reason to fork. That chain will never face another crisis because of a similar event. On the other hand, ether holders of the new chain might still disagree if this fork was a precedent for all similar cases or just a one-time disaster fix that shouldn’t happen ever again.

-Zsolt Felföldi is an ethereum developer working on the Go implementation of the ethereum protocol, sometimes called Geth.

http://www.coindesk.com/tale-two-chains-ethereum/

#REKT

[BitUsher]

I remember back in the day the foundation was going to set-up in my backyard, but the Canadians don't take kindly to securities fraud.

Exactly, the ICO was delayed almost a year for them to try and mitigate this risk. Unfortunately, the way the US legal system works is its unfairly treats the world as their jurisdiction which ultimately means that the Ethereum foundation and slock.it are vulnerable if they have had any US investors offended or harmed .

[RealBitcoin]

Lol it's escalating quickly.

I think purism is the way to go, all these "ideas" are like dropping a drop of ink into water, it taints the entire water.

You cant be an idealist optimist but also ignore every single major issue.

This is the problem with ICO's and Founding Entities that aren't anonymous. We saw it with Ripple, Paycoin, ect.. and now we are seeing it with Ethereum.... They are vulnerable to civil and criminal litigation unlike with bitcoin or similar coins that don't have these characteristics.

The price hasn't even fallen that much and lawsuits are already being created. Imagine what will happen as it drops further?

It's not anonymity the problem, but the top-down control.

They could say that they are not liable, but then they are directly controlling the development. You cant have it both ways LOL.


That is why Bitcoin doesn't need a Bitcoin Foundation

[RealBitcoin]

Lol it's escalating quickly.

I think purism is the way to go, all these "ideas" are like dropping a drop of ink into water, it taints the entire water.

You cant be an idealist optimist but also ignore every single major issue.

This is the problem with ICO's and Founding Entities that aren't anonymous. We saw it with Ripple, Paycoin, ect.. and now we are seeing it with Ethereum.... They are vulnerable to civil and criminal litigation unlike with bitcoin or similar coins that don't have these characteristics.

The price hasn't even fallen that much and lawsuits are already being created. Imagine what will happen as it drops further?

Law suit could also be created against ETC in the future if the Foundation is supported by certain funding.

It's funny because the ETH community should be the ultimate judge here. Why do we need to bring back the old legal system into this?

The ETH nodes and miners are democratically voting, which is the highest authority for cryprocurrency. We should just sit back and see how the community handles ETH vs ETC.

But of course if the Ethereum Foundation which is a legacy entity is subject to the old legal system. That is why we don't need a Bitcoin Foundation.

It's just a big mess.

[Hueristic]

I do not trust the people who think stealing money from the loop hole in the coding is right. I will support ETH.

What a cute, as well as ignorant sentiment.

[Latmist]

I do not trust the people who think stealing money from the loop hole in the coding is right. I will support ETH.

What a cute, as well as ignorant sentiment.

You will find out if you can work with the ETC thief in the next few days. He will dump his coins to get rich.

[whap]

I do not trust the people who think stealing money from the loop hole in the coding is right. I will support ETH.

What a cute, as well as ignorant sentiment.

You will find out if you can work with the ETC thief in the next few days. He will dump his coins to get rich.

Unless he's already rich then what? There are a number of rumours pointing at an inside job considering the DAO hack, there are only a handful of people deeply versant with the ETH code and thus capable of even launching the attack. This guy was into ETH before the ICO and is very likely already sitting in his diamond throne. The DAO hack had another purpose, time for conspiracy now.

[dinofelis]

I do not trust the people who think stealing money from the loop hole in the coding is right. I will support ETH.

The problem is that you do not seem to accept the concept of a smart contract, where code is law.  If the code is law, then there are, by definition, no loopholes in the code.  Loopholes are another word for bug, and bug means a deviation from the action of the code and its intend.  But if the code IS the intend, no such difference can exist between the code and itself.

You also use the word "stealing money".  But playing by the rules is not stealing.  Even if the rules are not what you thought they were, because you declared them to be the sole true rules.

On the other hand, undoing the move of someone who has played by the rules (like the DAO hacker), because you don't, finally, like the rules the way you declared them, THAT is stealing.

[BlindMayorBitcorn]

Bruce Wanker on the Ethereum Hard Fork

[RealBitcoin]

Bruce Wanker on the Ethereum Hard Fork

It's really stupid that the hacker can cashout in ETC.

However this is what hardfork is, the shills didnt believed that the old chain would exist. Every shill I have talked to believes that once a hardfork happens, the dominant chain will absorb the weak chain.

No.That is not the case.

[AstralWonder]

So you guys think Ethereum will ever make a comeback? I picked up a online ethereum wallet and put some ether in it.

There's definitely some advantages to Eth but I do believe the DAO will slowly fall and eventually die. Oh, and faster block times don't really mean a whole lot.

[BlindMayorBitcorn]

So you guys think Ethereum will ever make a comeback? I picked up a online ethereum wallet and put some ether in it.

There's definitely some advantages to Eth but I do believe the DAO will slowly fall and eventually die. Oh, and faster block times don't really mean a whole lot.

Which ones?

[Minecache]

So you guys think Ethereum will ever make a comeback? I picked up a online ethereum wallet and put some ether in it.

There's definitely some advantages to Eth but I do believe the DAO will slowly fall and eventually die. Oh, and faster block times don't really mean a whole lot.

Which ones?

You know the 10 second ones. As compared to BTCs 2 hours.

[BlindMayorBitcorn]

So you guys think Ethereum will ever make a comeback? I picked up a online ethereum wallet and put some ether in it.

There's definitely some advantages to Eth but I do believe the DAO will slowly fall and eventually die. Oh, and faster block times don't really mean a whole lot.

Which ones?

You know the 10 second ones. As compared to BTCs 2 hours.

For those times you absolutely, positively got to have your honey puffs. I hear you. But you still have to wait for the mail.

[iCEBREAKER]

Bruce Wanker on the Ethereum Hard Fork

Next up, Vitalik in his Führerbunker hears the news ETC is trading/hashing at ~20% of BETH.

The prequel:

https://www.youtube.com/watch?v=Wu638L-iVt8

 

[Kaller]

The difficulty and price  of the ETC is about 12% of the ETH. That is a good achievement. Will that last?

[RealBitcoin]

The difficulty and price  of the ETC is about 12% of the ETH. That is a good achievement. Will that last?

I dont know but my theory is that every equal or similar thing eventually balances out at 50%, which could happen with ETC/ETH as well.

It depends on the enviroment and the shilling vs censorship factors.

[Auponef]

The difficulty and price  of the ETC is about 12% of the ETH. That is a good achievement. Will that last?

I dont know but my theory is that every equal or similar thing eventually balances out at 50%, which could happen with ETC/ETH as well.

It depends on the enviroment and the shilling vs censorship factors.

When the hacker starts to dump his/her ETC coins, the ETC price will crash and the miner will desert it.